Apple COO Tim Cook has denied rumors that he is taking over as the new CEO of HP. Apple stock dropped $15 as the Nasdaq opened this morning on rumors that Cook would in fact take over the helm at HP. However, Gleacher & Co analyst Brian Marshall saw Cook this morning and he denied the rumor.

HP is currently seeking a new CEO to take over for Mark Hurd, who recently left the company and joined Oracle.

Apple’s stock rebounded and is now trading at $287.56, which is still down from yesterday’s close of $291.16.